The National Credit Act

The National Credit Regulator in Midrand is a part of the credit industry’s regulatory body, guiding legislation and education within the credit world. The watch dog so to speak, looking out for consumer rights, ensuring that this industry is open and fair in South Africa, they hold providers accountable. The NCR was established under the National Credit Act 34 of 2005.

Set with certain responsibilities within the credit industry, this body has a collection of functions impacting consumer and creditor aimed legislation that ensure a fair and open credit market. It is the responsibility of the NCR to head up education surrounding the Act, as well as research, policy development, registration of industry participants, investigation of complaints, and ensuring enforcement of the National Credit Act. This dictates that the Regulator must promote the development of an accessible credit market. With a key focus on addressing the short falls surrounding the credit of historically disadvantaged individuals, low income areas of the population, as well as remote, isolated communities – in an effort to make credit accessible to all consumers who could benefit from it.

Contact National Debt Advisors today to find out more about the National Credit Regulator in Midrand.